The global Control Valve Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global control valves market is projected to reach USD 11.85 billion by 2025, according to Million Insights. Rising adoption of industrial automation in various industries such as oil and gas, water and wastewater, chemicals, and others is expected to fuel the market growth. In addition, the rising demand for control valves from the food and beverage and pharmaceutical industries is projected to further drive the market growth during the forecast period, 2018 to 2025.
Key Players:
- Alfa Laval
- AVK Holding A/S
- Burkert Fluid Control Systems
- CIRCOR International, Inc.
- Crane
- Curtiss-Wright Corporation
- Emerson Electric Co.
- Flowserve Corporation
- General Electric
- Goodwin PLC
- Honeywell International, Inc.
- IMI plc
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Growth Drivers:
The rising need for power & energy in developing countries, as well as an increasing number of power generation plants, is projected to augment the control valve demand during the forecast period, 2018 to 2025. In addition, these smart valves are gaining traction in the nuclear power plant in several processes like feed water, chemical treatment, and more which is anticipated to boost the market growth further during this same period.
The control valves are gaining traction in process industries including water and wastewater, power & energy, pharmaceuticals, and petrochemicals in order to fulfill the increasing demand from the automation industry. The control valves help to control pressure or temperature in upstream, midstream, and downstream activities which is expected to increase efficiency, profitability, and safety of end-use industries. Thus, several benefits associated with control valves are projected to fuel market growth over the forecast period.
End Use Outlook:
- Oil & Gas
- Chemical
- Energy & Power
- Water & Wastewater
- Food & Beverage
- Pharmaceutical
Regional Outlook:
In 2017, Asia Pacific held the largest market share due to the existence of growing economies like India and China. Manufacturers are investing in actuators and valves manufacturing to cater to increasing demand for the valve in various automated industries like energy and power, food and beverage, water, and wastewater. The Middle East and Africa is anticipated to grow with a CAGR of over 6.5% from 2018 to 2025.
Impact of COVID-19
The COVID-19 outbreak has impacted the growth of control valve market negatively. As control valves are majorly used in pharmaceutical, oil and gas industry, and energy & power industries. These end-users are non-operational due to strict regulations by governments across the globe including restrictions on foreign trade, lockdowns, and supply chain disruptions as precautionary measures for people's safety.
On the other hand, the demand for control valves is increasing in the pharmaceutical industry, as control valves play a vital role to manage the flow rate and operation as per the operator commands. Currently, the demand for generic drugs is increasing to fight against COVID–19. Though this pandemic has disrupted supply chains pf every sector including pharma, the demand for the control valve is expected to increase during the COVID-19 outbreak. Thus, industry players are striving to develop technologically advanced control valves as per the end users' requirements.
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